Socio-Economic Analogues of the Gas Laws (Boyle's and Charles')
John Angle ()
MPRA Paper from University Library of Munich, Germany
Most social scientists would reject the possibility of socio-economic analogues of the gas laws (Boyle’s and Charles’) on verisimilitude grounds. The gas laws relate the variables temperature, pressure, and volume. The possibility of socio-economic analogues of the gas laws and their variables is suggested by the similarity of two mathematical models. One model is the Inequality Process (IP), a particle system model that explains a wide scope of socio-economic phenomena. The IP is isomorphic to the particle system of the Kinetic Theory of Gases (KTG) up to two differences. The KTG is the micro-level explanation of the gas laws. Given a map from the KTG into the IP, the IP implies empirically valid socio-economic analogues of Boyle’s and Charles’ Laws.
Keywords: Boyle’s Law; Charles’ Law; econophysics; income and wealth distribution; Inequality Process; Kinetic Theory of Gases (search for similar items in EconPapers)
JEL-codes: C02 D31 (search for similar items in EconPapers)
Date: 2011-09-25, Revised 2012-07-17
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Published in Proceedings of the 2011 Joint Statistical Meetings (2011): pp. 1375-1389
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:40125
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